Form 8.5 (EPT/RI)-Replacement of Direct Line

Morgan Stanley & Co. Int'l plc

10 December 2024

 

AMENDMENT(2(a), 2(b))

FORM 8.5 (EPT/RI)

PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY

Rule 8.5 of the Takeover Code (the "Code")

1.         KEY INFORMATION

(a) Name of exempt principal trader:	Morgan Stanley & Co. International plc
(b) Name of offeror/offeree in relation to whose relevant securities this form relates:      Use a separate form for each offeror/offeree	Direct Line Insurance Group plc
(c) Name of the party to the offer with which exempt principal trader is connected:	Direct Line Insurance Group plc
(d) Date dealing undertaken:	06 December 2024
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer?      If it is a cash offer or possible cash offer, state "N/A"	YES - Aviva plc

2.         DEALINGS BY THE EXEMPT PRINCIPAL TRADER

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a)        Purchases and sales

Class of relevant security	Purchases/ sales	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
10 10/11p ordinary	SALES	21,085,417	2.5474 GBP	2.4918 GBP
10 10/11p ordinary	PURCHASES	23,364,251	2.5700 GBP	2.4920 GBP
10 10/11p ordinary	PURCHASES	200,000	3.0725 EUR	3.0692 EUR

(b)        Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit
10 10/11p ordinary	CFD	increasing a long position	1,242,909	2.4920 GBP
10 10/11p ordinary	CFD	increasing a long position	54,088	2.4920 GBP
10 10/11p ordinary	CFD	increasing a long position	25,919	2.5104 GBP
10 10/11p ordinary	CFD	increasing a long position	425,051	2.5179 GBP
10 10/11p ordinary	CFD	increasing a long position	1,241	2.5245 GBP
10 10/11p ordinary	CFD	increasing a long position	215,362	2.5247 GBP
10 10/11p ordinary	CFD	increasing a long position	7,971	2.5327 GBP
10 10/11p ordinary	CFD	increasing a long position	206,393	2.5343 GBP
10 10/11p ordinary	CFD	increasing a long position	55,466	2.5345 GBP
10 10/11p ordinary	CFD	increasing a short position	22,616	2.4920 GBP
10 10/11p ordinary	CFD	increasing a short position	775	2.4922 GBP
10 10/11p ordinary	CFD	increasing a short position	2,028	2.4923 GBP
10 10/11p ordinary	CFD	increasing a short position	8,107	2.4983 GBP
10 10/11p ordinary	CFD	increasing a short position	399	2.5062 GBP
10 10/11p ordinary	CFD	increasing a short position	350,824	2.5063 GBP
10 10/11p ordinary	CFD	increasing a short position	438,228	2.5103 GBP
10 10/11p ordinary	CFD	increasing a short position	52,581	2.5123 GBP
10 10/11p ordinary	CFD	increasing a short position	311,645	2.5132 GBP
10 10/11p ordinary	CFD	increasing a short position	552,581	2.5161 GBP
10 10/11p ordinary	CFD	increasing a short position	473,640	2.5178 GBP
10 10/11p ordinary	CFD	increasing a short position	265,098	2.5178 GBP
10 10/11p ordinary	CFD	increasing a short position	150,000	2.5196 GBP
10 10/11p ordinary	CFD	increasing a short position	364,572	2.5213 GBP
10 10/11p ordinary	CFD	increasing a short position	14,759	2.5215 GBP
10 10/11p ordinary	CFD	increasing a short position	153,630	2.5220 GBP
10 10/11p ordinary	CFD	increasing a short position	59,091	2.5245 GBP
10 10/11p ordinary	CFD	increasing a short position	6,595	2.5250 GBP
10 10/11p ordinary	CFD	increasing a short position	86,187	2.5256 GBP
10 10/11p ordinary	CFD	increasing a short position	3,814	2.5258 GBP
10 10/11p ordinary	CFD	increasing a short position	135,428	2.5270 GBP
10 10/11p ordinary	CFD	increasing a short position	1,775	2.5275 GBP
10 10/11p ordinary	CFD	increasing a short position	15,571	2.5283 GBP
10 10/11p ordinary	CFD	increasing a short position	250,000	2.5289 GBP
10 10/11p ordinary	CFD	increasing a short position	23	2.5290 GBP
10 10/11p ordinary	CFD	increasing a short position	2,051	2.5290 GBP
10 10/11p ordinary	CFD	increasing a short position	250,000	2.5294 GBP
10 10/11p ordinary	CFD	increasing a short position	5,000	2.5300 GBP
10 10/11p ordinary	CFD	increasing a short position	308,761	2.5301 GBP
10 10/11p ordinary	CFD	increasing a short position	12,188	2.5304 GBP
10 10/11p ordinary	CFD	increasing a short position	287,037	2.5313 GBP
10 10/11p ordinary	CFD	increasing a short position	1,796,400	2.5318 GBP
10 10/11p ordinary	CFD	increasing a short position	21,290	2.5320 GBP
10 10/11p ordinary	CFD	increasing a short position	101,239	2.5328 GBP
10 10/11p ordinary	CFD	increasing a short position	82,403	2.5328 GBP
10 10/11p ordinary	CFD	increasing a short position	66,923	2.5328 GBP
10 10/11p ordinary	CFD	increasing a short position	439,025	2.5328 GBP
10 10/11p ordinary	CFD	increasing a short position	310,410	2.5328 GBP
10 10/11p ordinary	CFD	increasing a short position	9,728	2.5341 GBP
10 10/11p ordinary	CFD	increasing a short position	835	2.5360 GBP
10 10/11p ordinary	CFD	increasing a short position	300,000	2.5381 GBP
10 10/11p ordinary	CFD	increasing a short position	200,000	2.5387 GBP
10 10/11p ordinary	CFD	increasing a short position	149,283	2.5387 GBP
10 10/11p ordinary	CFD	increasing a short position	1,000,000	2.5403 GBP
10 10/11p ordinary	CFD	increasing a short position	500,000	2.5431 GBP
10 10/11p ordinary	CFD	increasing a short position	200,000	2.5433 GBP
10 10/11p ordinary	CFD	reducing a long position	54,088	2.4920 GBP
10 10/11p ordinary	CFD	reducing a long position	2,936	2.4920 GBP
10 10/11p ordinary	CFD	reducing a long position	1,241	2.4920 GBP
10 10/11p ordinary	CFD	reducing a long position	362	2.4920 GBP
10 10/11p ordinary	CFD	reducing a long position	7,537	2.5011 GBP
10 10/11p ordinary	CFD	reducing a long position	6,061	2.5051 GBP
10 10/11p ordinary	CFD	reducing a long position	736	2.5062 GBP
10 10/11p ordinary	CFD	reducing a long position	7,190	2.5190 GBP
10 10/11p ordinary	CFD	reducing a long position	58,385	2.5190 GBP
10 10/11p ordinary	CFD	reducing a long position	31,302	2.5256 GBP
10 10/11p ordinary	CFD	reducing a long position	206,393	2.5267 GBP
10 10/11p ordinary	CFD	reducing a long position	425,051	2.5272 GBP
10 10/11p ordinary	CFD	reducing a long position	1,242,909	2.5283 GBP
10 10/11p ordinary	CFD	reducing a short position	101,196	2.4918 GBP
10 10/11p ordinary	CFD	reducing a short position	8,192	2.4920 GBP
10 10/11p ordinary	CFD	reducing a short position	1,714	2.4920 GBP
10 10/11p ordinary	CFD	reducing a short position	2,387	2.4920 GBP
10 10/11p ordinary	CFD	reducing a short position	9,094	2.4920 GBP
10 10/11p ordinary	CFD	reducing a short position	2,439,148	2.4920 GBP
10 10/11p ordinary	CFD	reducing a short position	7,029	2.4920 GBP
10 10/11p ordinary	CFD	reducing a short position	3,346	2.4920 GBP
10 10/11p ordinary	CFD	reducing a short position	16,921	2.4942 GBP
10 10/11p ordinary	CFD	reducing a short position	189	2.5152 GBP
10 10/11p ordinary	CFD	reducing a short position	10,419	2.5185 GBP
10 10/11p ordinary	CFD	reducing a short position	12,000	2.5218 GBP
10 10/11p ordinary	CFD	reducing a short position	1,684,440	2.5220 GBP
10 10/11p ordinary	CFD	reducing a short position	391	2.5221 GBP
10 10/11p ordinary	CFD	reducing a short position	1,569	2.5234 GBP
10 10/11p ordinary	CFD	reducing a short position	3,823	2.5238 GBP
10 10/11p ordinary	CFD	reducing a short position	20	2.5240 GBP
10 10/11p ordinary	CFD	reducing a short position	4,724	2.5241 GBP
10 10/11p ordinary	CFD	reducing a short position	981	2.5245 GBP
10 10/11p ordinary	CFD	reducing a short position	4,311	2.5255 GBP
10 10/11p ordinary	CFD	reducing a short position	86,498	2.5256 GBP
10 10/11p ordinary	CFD	reducing a short position	43	2.5260 GBP
10 10/11p ordinary	CFD	reducing a short position	4,698	2.5263 GBP
10 10/11p ordinary	CFD	reducing a short position	4,710	2.5268 GBP
10 10/11p ordinary	CFD	reducing a short position	280,069	2.5273 GBP
10 10/11p ordinary	CFD	reducing a short position	31,311	2.5275 GBP
10 10/11p ordinary	CFD	reducing a short position	13,728	2.5276 GBP
10 10/11p ordinary	CFD	reducing a short position	2,255	2.5277 GBP
10 10/11p ordinary	CFD	reducing a short position	3,100	2.5278 GBP
10 10/11p ordinary	CFD	reducing a short position	1,070	2.5280 GBP
10 10/11p ordinary	CFD	reducing a short position	1,839	2.5281 GBP
10 10/11p ordinary	CFD	reducing a short position	3,716	2.5288 GBP
10 10/11p ordinary	CFD	reducing a short position	13,900	2.5292 GBP
10 10/11p ordinary	CFD	reducing a short position	83,540	2.5294 GBP
10 10/11p ordinary	CFD	reducing a short position	11,086	2.5297 GBP
10 10/11p ordinary	CFD	reducing a short position	311,791	2.5298 GBP
10 10/11p ordinary	CFD	reducing a short position	5,000	2.5300 GBP
10 10/11p ordinary	CFD	reducing a short position	5,994	2.5316 GBP
10 10/11p ordinary	CFD	reducing a short position	761	2.5327 GBP
10 10/11p ordinary	CFD	reducing a short position	831	2.5339 GBP
10 10/11p ordinary	CFD	reducing a short position	86,187	2.5345 GBP
10 10/11p ordinary	CFD	reducing a short position	48,085	2.5360 GBP
10 10/11p ordinary	CFD	reducing a short position	1,077,331	2.5361 GBP
10 10/11p ordinary	CFD	reducing a short position	1,015,833	2.5366 GBP
10 10/11p ordinary	CFD	reducing a short position	25,677	2.5380 GBP
10 10/11p ordinary	CFD	reducing a short position	4,143	2.5397 GBP

(c)        Stock-settled derivative transactions (including options)

(i)         Writing, selling, purchasing or varying

Class of relevant security	Product description e.g. call option	Writing, purchasing, selling, varying etc.	Number of securities to which option relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit
N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

(ii)        Exercise

Class of relevant security	Product description e.g. call option	Exercising/ exercised against	Number of securities	Exercise price per unit
N/A	N/A	N/A	N/A	N/A

(d)        Other dealings (including subscribing for new securities)

Class of relevant security	Nature of dealing e.g. subscription, conversion	Details	Price per unit (if applicable)
N/A	N/A	N/A	N/A

3.         OTHER INFORMATION

(a)        Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included.  If there are no such agreements, arrangements or understandings, state "none"

NONE

(b)        Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to: (i)  the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none"

NONE

Date of disclosure:	10 December 2024
Contact name:	Craig Horsley
Telephone number:	[phone]

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. 

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on [phone].

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

 

END